Although the EU ambassador emphasized all the ways that the EU and the U.S. coordinate on trade, a panelist discussing the future of the U.S.-EU trade relationship demonstrated the ways the two economic powers talk past each other at times.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
If a reelected President Donald Trump uses the existing Section 301 tariffs program to hike tariffs on all Chinese goods by at least 60%, that's likely to survive a court challenge, said two law professors who spoke during a Washington International Trade Association webinar on the executive branch's ability to make deals and impose trade restrictions without congressional say-so.
Because China makes 90% of anode and cathode materials, and dominates processing of critical minerals, no matter where they are mined, recent hikes in tariffs on Chinese minerals will do little, trade experts agreed.
Domestic steel producer Zekelman Industries filed a lawsuit on Oct. 21 in a Washington, D.C., federal court alleging that the Mexican government breached its 2019 agreement with the U.S. to slow imports of Mexican steel products. The company argued that Mexico's breach of the deal "has devastated the U.S. steel industry," forcing the company to close two plants due to the oversupply of cheap steel (Zekelman Industries v. United States, D.D.C. # 24-02992).
The Aluminum Association is pleased by the hike in Section 301 tariffs on aluminum products -- even though it applies to more products than it wishes were covered -- and says Mexico's reporting is helping with trade remedies covering Chinese, Russian and Belarussian steel.
Predictions of inflation and lost exports if Republican presidential nominee Donald Trump re-wins the White House and imposes global tariffs are well-trod ground.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
Decoupling between the U.S. and China in the most technologically advanced products is real, economists said at an Oct. 21 Peterson Institute for International Economics event, but trade overall between the two countries continues to grow, if more slowly than trade with other partners.
Treasury Secretary Janet Yellen, without naming Trump, criticized his economic approach, saying a broad-based tariff would be like a sales tax.